Lakestone Bank & Trust Mortgage Lending & HMDA Data, 2018
In 2018, Lakestone Bank & Trust of Lapeer, MI reported 233 mortgage applications totaling $31.2 million, down 6% from 2017. The average application was for $133,969, and applicants reported an average income of $93,729. 71% of its applications resulted in an originated loan and 16% were denied. Its largest markets were Warren-Troy-Farmington Hills, MI (192), Flint, MI (13) and Saginaw, MI (2) (applications in parentheses).
| Mortgage Company & Address | Lakestone Bank & Trust 83 W Nepessing St Lapeer, MI 48446 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 233 |
| Total Mortgage Loan Application Amount | $31,215,000 |
| Average Mortgage Loan Application Amount | $133,969 |
| Highest Mortgage Loan Application Amount | $805,000 |
| Average Applicant Income | $93,729 |
| Highest Applicant Income | $813,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Lakestone Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Warren-Troy-Farmington Hills, MI | 192 | $ 25,250,000 | $ 131,510 | $ 94,000 |
| Outside any metro area | 21 | $ 2,485,000 | $ 118,333 | $ 84,142 |
| Flint, MI | 13 | $ 2,125,000 | $ 163,461 | $ 105,000 |
| Saginaw, MI | 2 | $ 200,000 | $ 100,000 | $ 32,000 |
| Bay City, MI | 1 | $ 145,000 | $ 145,000 | $ 90,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 335,000 | $ 335,000 | $ 203,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 1 | $ 455,000 | $ 455,000 | $ 0 |
| Jackson, MI | 1 | $ 95,000 | $ 95,000 | $ 129,000 |
| Midland, MI | 1 | $ 125,000 | $ 125,000 | $ 0 |
Mortgage Loan Application Detail Totals for Lakestone Bank & Trust in 2018
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 90 | $14,490,000 | $161,000 | $805,000 | $100,000 | $756,000 |
| Cash-out Refinancing | 79 | $8,805,000 | $111,000 | $405,000 | $70,000 | $341,000 |
| Refinancing | 56 | $6,720,000 | $120,000 | $665,000 | $98,000 | $813,000 |
| Other Purpose | 5 | $985,000 | $197,000 | $305,000 | $336,000 | $756,000 |
| Home Improvement | 3 | $215,000 | $71,000 | $95,000 | $47,000 | $68,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 201 | $24,895,000 | $123,000 | $695,000 | $94,000 | $813,000 |
| Not applicable | 25 | $5,235,000 | $209,000 | $805,000 | $0 | $0 |
| Hispanic | 3 | $185,000 | $61,000 | $105,000 | $51,000 | $72,000 |
| Not Provided | 2 | $260,000 | $130,000 | $215,000 | $75,000 | $75,000 |
| American Indian or Alaskan Native | 1 | $105,000 | $105,000 | $105,000 | $45,000 | $45,000 |
| Asian | 1 | $535,000 | $535,000 | $535,000 | $201,000 | $201,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 233 | $31,215,000 | $133,000 | $805,000 | $94,000 | $813,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 166 | $23,420,000 | $141,000 | $805,000 | $103,000 | $813,000 |
| Application Denied By Financial Institution | 37 | $4,015,000 | $108,000 | $405,000 | $64,000 | $309,000 |
| Application Withdrawn By Applicant | 25 | $2,385,000 | $95,000 | $235,000 | $77,000 | $341,000 |
| Application Approved But Not Accepted | 5 | $1,395,000 | $279,000 | $505,000 | $127,000 | $321,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 233 | $31,215,000 | $133,000 | $805,000 | $94,000 | $813,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Lakestone Bank & Trust's 2018 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Lakestone Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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